Our vision is to become the ultimate e-commerce gifting companion in our markets
Our goal is for the Moonpig and Greetz brands to become synonymous with gifting in their respective markets. We have already evolved from the online leader in personalised greeting cards into a card-first gifting platform, and the next phase of our journey is to leverage data science capabilities to transition into a holistic online gifting companion, increasing our share of the gifting market and becoming the destination of choice for customers celebrating all the important occasions and events in their lives.
We believe that our high brand awareness, large and loyal customer base, and strong customer acquisition capabilities provide a strong foundation for achieving this objective, and intend to leverage our powerful data science and technology platform to continuously enhance our customer proposition, increase the active customer base, and expand customer lifetime value.
Capitalise on the structural shift to online with continued growth in the customer base
Continued customer acquisition, and in particular continuing to win customers migrating from the offline to online channel forms a key part of our growth strategy. There are estimated to be 53.8 million card purchasers in our core markets of the UK and the Netherlands according to OC&C, representing a large untapped pool of potential customers for us to win.
We will continue with our "card-first" customer acquisition strategy, leveraging our strong brand awareness and reputation to bring new customers onto our platforms. We believe that our differentiated gifting ecosystem and platforms foster a strong sense of customer loyalty and meaningfully support our customer retention efforts, with 75% of our revenue derived from previously acquired customers. We strive to ensure that we deliver an intuitive and up-to-date user experience and offer our customers the most convenient delivery options and industry leading cut-off times.
Drive growth through the existing customer base
We believe we have a significant opportunity to drive strong, continued growth from our existing customer base by increasing our share of the customer wallet and encouraging higher gift-attach rates.
In the year to April 2020 our active customers are estimated to purchase, on average, 23 cards each per annum, of which just 3.3 were estimated to be purchased from us, according to OC&C and management estimates. We believe that through a combination of enhancing the product offering through its Global Design Platform, expansion of the gifting range, a focus on convenience through adoption of the app, and using data insights to personalise the customer journey, we will be able to increase the penetration of our customer base’s annual spending on occasion-based gifting.
Continuous enhancement of the technology platform and data science capabilities to deliver a personalised app-first customer journey
We believe that our strong data science and technology expertise, along with our platforms, are key points of differentiation which enable strong customer acquisition and retention. We are focused on building a unified technology platform and enhancing our data collection and data science capabilities in order to ensure we continue to deliver a seamless user experience across our markets.
Having successfully re-platformed the Moonpig business, the next stage is to unify the whole Group onto a single platform, with Greetz currently in the process of being migrated. We believe this will enable the harmonization of the operating businesses, including the alignment of Greetz to Moonpig’s card-first strategy, increasing the speed of innovation across the Group and driving operational efficiencies.